As the largest providers of health and medical research in Australia, the Group of Eight (Go8) and the Association of Australian Medical Research Institutes (AAMRI) welcome the release of the Medical Research Future Fund (MRFF) Principles and congratulates the Minister for Health, the Hon Greg Hunt MP, and the Australian Medical Research Advisory Board (AMRAB) – Chaired by Professor Ian Frazer AC of the University of Queensland.

Vicki Thomson, Go8 Chief Executive says the release of the Government-endorsed MRFF funding principles would “ensure the integrity and success of the MRFF which will benefit every Australian,” she said.

Created in 2015 with bi-partisan support, the MRFF funds medical research and innovation across the spectrum with a focus on community impact. “It importantly funds the application and commercialisation of vital medical research and the translation that medical research into new and better ways of improving the health and wellbeing of all Australians,” said Ms Thomson.

In the 2017 Budget, Minister Hunt announced that the MRFF would increase its medical research funding with $642.9 million in 2020-21 – representing $1.4 billion of funding over the first five years of the fund.

“With such a large increase in medical research investment through the MRFF the Go8 and AAMRI particularly welcome the 16 funding principles released today,” said Ms Thomson. “The application of these principles will ensure MRFF funding is contestable, rigorously peer reviewed, strategically targeted and integrated into our world class research sector. This in turn will deliver on the MRFF aspiration to transform health and medical research and innovation to improve lives, build the economy and contribute to health sustainability,” said Professor Tony Cunningham, President of AAMRI.

Collectively Go8 and AAMRI members invest over $3 billion annually in Health and Medical Research. This includes over 85 per cent of competitive grants funding through the National Health and Medical Research Council (NHMRC). “We are also very mindful of the savings within the Health portfolio that have allowed the funding of the MRFF and the return on this investment that the research community must deliver to the Australian people,” said Ms Thomson. “We are committed to this accountability and will continue to work constructively with Minister Hunt whose MRFF focus the Go8 and AAMRI jointly applaud.”